3 AI Tools Transforming Financial Fraud Investigations Today!

With fraud losses topping $10 billion and bad actors using AI to commit fraud faster than ever, the urgency for better investigative methods is at an all-time high. Traditional approaches are too slow, manual, and error-prone to keep up with modern, AI-driven fraud tactics.

But here’s the twist: AI isn’t just part of the problem; it’s part of the solution. It lets investigators quickly process massive data, spot complex patterns, and respond with precision.

For investigators, adopting AI isn’t just smart—it’s necessary to stay ahead. To help public agencies fight fraud and protect the public, we’ve highlighted three top AI-powered tools, starting with ScanWriter AI, known for its pinpoint accuracy in analyzing complex data and verifiable outputs; Voyager Labs excels with Deep Data Insights, and CoAnalyst stands out for its Intuitive Interactions.

Let’s look into their benefits, limitations, and pricing to make an informed selection of the most effective tool for your fraud investigation needs.

#1. ScanWriter AI

ScanWriter AI was born out of a deep commitment to understanding and addressing the real challenges fraud investigators face in government agencies across the USA. These challenges include managing overwhelming volumes of data, the need for rapid analysis, and the pressure to ensure absolute accuracy and reliability in investigation findings.

ScanWriter integrates advanced AI capabilities to meet these needs, not to replace human investigators but to augment their skills. The platform is more than just an AI tool—it’s an intelligent assistant, similar to but better than ChatGPT in its interactive nature. It is specifically trained on a specialized knowledge base tailored for financial fraud investigations, which includes real investigation scenarios, regulatory guidelines, and best practices from the field, making it exceptionally relevant to investigators’ needs.

What’s additionally unique about this platform is its patented verification system, which ensures the accuracy of AI-generated data by allowing users to trace information back to its origins, fostering trust and transparency.

This overview merely scratches the surface of ScanWriter AI. So, let’s explore all its capabilities in more detail.

8 Ways ScanWriter AI Empowers Fraud Investigators at Public Agencies in the USA

ScanWriter AI is the ideal investigative assistant, engineered to deliver precise, effective, and timely results in any fraud investigation. Here’s how:

• Automates Tedious Data Processing: ScanWriter AI saves investigators significant time and effort by effortlessly processing structured data (like bank statements and Excel files) and unstructured data (such as handwritten checks and scanned PDFs). It automates critical tasks such as normalizing names, checking for accuracy, and enriching data, allowing investigators to focus on more strategic analysis and decision-making.
• Seamless Data Integration: ScanWriter AI seamlessly consolidates various file types supported by over 25,000 banking institutions into a single, cohesive dataset. Whether it’s bank statements, check images or deposit slips, there are no limits to the volume of documents you can process, making ScanWriter AI ideal for large-scale investigations.
• Delivers Case-Specific Analysis: ScanWriter AI’s NLP interface is trained on a vast array of real-world investigation scenarios and best practices for various case types. This specialized training allows the platform to automatically identify relevant insights tailored to specific cases, such as detecting unusual transaction patterns in elderly exploitation, analyzing entity links in narcotics trafficking, and tracking complex financial schemes in money laundering. 
• Visualizes Complex Data for Faster Decisions: ScanWriter AI, integrated with Power BI, visualizes fund flows and asset movements, highlighting anomalies like large unusual transfers. The platform also supports storytelling by turning complex financial data into clear visual summaries, which helps understand an investigation’s bigger picture.  
• Adapts to Specialized Investigations: ScanWriter AI has expert-designed prompts tailored to various investigations. One can further customize these prompts to meet specific needs, ensuring the platform delivers accurate, case-relevant insights. This adaptability helps investigators efficiently pinpoint critical evidence.
• Advanced Data Verification and Transparency: ScanWriter AI’s patented verification system ensures the accuracy of AI-generated data by allowing investigators to trace each data point back to its original source via a source link, fostering trust and transparency throughout the investigative process.
• Ensures Maximum Data Security: ScanWriter AI is designed to keep all investigative data securely within your agency’s environment through on-premise deployment. This eliminates the risks associated with external storage and unauthorized access, making it the ideal choice for government agencies handling sensitive investigations.
• Upholds Ethical Practices and Transparency: ScanWriter AI is designed for ethical operations and transparency. It operates in a secured environment using proprietary data to ensure sensitive information remains within the agency, preventing unauthorized access and maintaining data integrity. This setup reduces biases and enhances security. Furthermore, its patented verification system reinforces its commitment to explainability and transparency, thus meeting stringent regulatory standards for ethical AI use.

Limitations

• There are hardly any limitations with the platform; however, ScanWriter AI does not initially know your unique style of investigation. The more you interact with it, the better it learns your methods and assists you more effectively.

Pricing

The pricing structure for ScanWriter is structured around different licensing options to suit various user needs, each with specific features and services.

Source: ScanWriterAI/Pricing

Product Demo 

Seeing all the benefits, you must be eager to see ScanWriter AI in action, right? Don’t wait any longer—book your in-person demo today and let our team of experts show you how you can transform your fraud investigation practice.

#2. Voyager Labs

Founded in 2012, Voyager Labs was created with a vision to revolutionize the field of investigation using advanced AI technology. Today, it stands as a pivotal leader in AI-based investigation solutions, enabling not just U.S. public sector but law enforcement, and intelligence agencies worldwide to uncover hidden connections and insights from massive datasets, including open, deep, and dark web sources. 

Voyager Labs’ proprietary AI technology not only accelerates the investigative process but also enhances the depth and accuracy of insights, empowering agencies to act decisively and make the world a safer place.

Source: voyager-labs

Enough talk—see for yourself the benefits their platform can bring to your financial fraud investigation with AI capabilities.

4 Voyager Platforms Enhancing Investigation with AI Capabilities 

Voyager Labs offers four distinct AI platforms, each designed to meet the diverse needs of modern investigations. From analyzing visual data to assessing risks, these tools equip investigators with the necessary capabilities to handle complex data landscapes. Let’s explore the benefits they offer:

• VoyagerInsights^TM: VoyagerInsights is a central investigative platform that leverages AI to surface relevant and previously unknown storylines hidden within massive data sets. By automatically identifying connections and insights that might go unnoticed, VoyagerInsights aids investigators in piecing together complex scenarios, thereby enhancing their understanding of the case’s context and progression.
• VoyagerAnalytics^TM: VoyagerAnalytics is designed to deeply analyze immense volumes of data from open, deep, and dark web sources as well as internal data. This AI-based analysis interface excels at uncovering both known and hidden connections between entities. With advanced algorithms provide real-time, actionable insights that can pivot the direction of an investigation.
• VoyagerCheck^TM: VoyagerCheck serves as a risk assessment platform that uses AI to instantly evaluate potential risk factors at scale. This platform assesses risk factors by analyzing both structured and unstructured data from a multitude of databases and online sources. There are some predefined queries that enable organizations to conduct large-scale risk evaluations and make timely, well-informed decisions.
• VoyagerVision^TM: VoyagerVision transforms data from any source into visible, actionable intelligence. This visual intelligence platform uses AI to detect objects, extract texts, and map out complex relationships between entities, significantly broadening the scope of investigations and aiding in the discovery of new leads and the closure of cases.

Limitations

• Limited User Feedback: The absence of customer reviews on review platforms limits potential users’ ability to gauge satisfaction and effectiveness, posing a challenge to establishing trust in Voyager Labs’ solutions.
• Unclear Ethical Practices: Without transparent disclosure of ethical and legal compliance, Voyager Labs’ use of AI may raise concerns about bias and explainability, potentially deterring public investigators who prioritize accountability and transparency in their investigative tools.

Pricing

Voyager Labs, like many SaaS companies, does not publicly list pricing details on its website or other readily available sources.

Product Demo 

Make the invisible visible in your investigations—Voyager Labs’ promise! Want to see if they truly deliver what they promise? Book your free demo today and witness their AI in action!

#3. CoAnalyst

As a flagship offering in PenLink’s suite of intelligence solutions, CoAnalyst(aka investigator’s generative AI partner) was developed to radically transform the field of investigation through advanced generative AI technology. This platform excels in simplifying complex investigations and delivering actionable insights for law enforcement, government, and financial institutions globally. By allowing users to interact through natural language queries, CoAnalyst breaks down technical barriers and speeds up the investigative process with precision and depth.

Source: CoAnalyst

Okay, let’s just jump straight in and understand how it does it all. As we have a list of benefits the tool offers to all investigators in public sectors in the next section.

3 Standout Benefits of Using CoAnalyst, a Gen AI Platform by PenLink

PenLink offers two distinct suites—Evidentiary and Intelligence. To fully appreciate the breadth of options, visit their website. Meanwhile, to give you a head start, we’ve highlighted several capabilities of the CoAnalyst platform, part of their Intelligence suite, that are essential for any public sector investigator considering its use for:

• Intuitive Query Handling with Generative AI: CoAnalyst simplifies complex investigations by intuitively understanding and responding to natural language queries. This enables investigators to effortlessly engage with vast amounts of data, eliminating technical barriers and allowing them to focus on strategic decision-making. Whether querying specific data points or seeking patterns, the platform adjusts to the specific needs of each investigation, saving time and enhancing precision.
• Comprehensive Data Synthesis for Precise Insights: CoAnalyst leverages AI algorithms to process and synthesize data from diverse sources, including web content, digital evidence, public records, and other investigation documents. This capability ensures a seamless integration of information, enabling investigators to handle large volumes of data efficiently. The platform supports the rapid categorization and analysis of this data, which is crucial for timely and effective fraud investigation.
• In-depth Actionable Insights for Effective Resolutions: CoAnalyst is not just a data processing tool; it’s a partner in investigation. By providing comprehensive summaries and visual data interpretations, it helps uncover hidden connections and patterns between entities that might be missed manually. These insights are tailored to the unique demands of public sector investigations, aiding in complex cases such as financial fraud, cybercrime, and other sophisticated criminal activities.

Limitations

• Lack of Customer Reviews: No customer reviews for CoAnalyst or PenLink were found, possibly indicating they are new to the market.
• Learning Curve: Becoming proficient with CoAnalyst demands significant time and effort due to excessive training, which could also lead to additional costs.
• Integration Challenges: CoAnalyst could encounter compatibility issues with pre-existing systems, particularly those that are older or utilize different software platforms.
• Dependence on Data Quality: The effectiveness of CoAnalyst and the accuracy of its insights could be significantly hindered if the data is fragmented, incomplete, or of low quality.

Pricing

CoAnalyst does not publicly list specific pricing details on its website; for precise pricing information, please contact PenLink directly through its customer service.

Product Demo 

CoAnalyst delivers on the promise of Digital Intelligence for a Safer World! Interested in seeing if it lives up to expectations? Contact to request a demo and experience the solution firsthand.

After reviewing these top AI-powered tools for financial fraud investigation, it’s clear they all offer unique benefits. However, if you’re aiming for a strategic edge, let’s now see how ScanWriter AI can be an intelligent choice.

ScanWriter AI – Fraud Investigator’s Top Choice

AI is transforming financial fraud investigations with unprecedented precision, equipping investigators with advanced tools to identify anomalies and patterns that often require significant time to detect using traditional methods or are completely missed at times. However, some investigators remain hesitant to fully embrace AI, concerned about job displacement and the potential for biased results due to skewed training data. And rightfully so, as not every platform is transparent enough about its AI capabilities.

ScanWriter AI addresses these concerns with its patented AI capabilities for real-time data analysis and adaptability to new fraud tactics, ensuring robust protection and compliance. It effectively processes all investigation data, ensuring each report is linkable back to its original source. This feature enhances the trustworthiness of the investigations by providing verifiable, traceable evidence that supports each finding, preventing false claims and fostering credible results. This level of transparency not only ensures justice but also accelerates the investigative process, meeting the practical needs of modern investigations.

ScanWriter is a trusted name among top investigators across the USA. This new AI edition of ScanWriter is poised to elevate investigations to the next level.

Don’t miss out—request a demo today and discover the future of financial investigations with ScanWriter AI.